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At times during the day when there is not much movement or on a generally slow day such as today in the EURUSD, I find myself experiencing difficulty concentrating and being distracted by other things. Once I am distracted, I find it hard to refocus on the charts for long. Does anyone else have this issue and if so, how do you handle it?
Can you help answer these questions from other members on NexusFi?
Mechanical entries and sound alerts. Rest of the time watch TV, listen to music, talk to a trading buddy, read a book, do some exercises....done all of these and they all work.
The key is to not concentrate except during periods required by your system. I use a bar timer alert and I look at the chart when the timer alerts me, I make a decision then about what I am going to do, Short, Long or Flat. Most of the time its flat. If a level gets put in, I mark it. Other than this, I just do nothing.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Good advice above. I think the worst thing you can do is stare at screen when nothing going on. Boredom can lead to disasters when trading and much of the time it is boring. Causes you to do things you should not.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
This question has been asked to Lance Beggs at Your Trading Coach | Home (
Lance, my mind wanders while staring at charts waiting for setups. If I could take to the bank the number of trades I missed while NOT paying attention to the charts, I would …
